A social networking platform that is business and employment-oriented, LinkedIn is the largest global community of business professionals. It is a unique and powerful marketing platform, especially for business marketers.
Considering that LinkedIn is a network of professionals, one of the most effective ways of expanding your reach is through publishing noteworthy posts or articles. By sharing thoughts on LinkedIn (Exhibit 17.1), members can boost their reputation as thought leaders in their field of expertise.
Focussing mainly on the use of LinkedIn for digital marketing, this chapter covers details of organic reach and paid advertising on the network, and the advertising options and formats.
With 740 million members spread across the globe (Exhibit 17.2), and over 55 million listed companies (source: LinkedIn, 2020), LinkedIn is ideal for networking with professionals, and for advertising to business markets.
A substantial proportion of members are classified as decision-makers, and many are considered opinion leaders.
One in four millennials, a key demographic, use LinkedIn, and about 13% of these relatively young members are in decision-making positions.
40 million individuals use the network to search for jobs each week, and about 3 are hired every minute via LinkedIn.
Note: To find content on MarketingMind type the acronym ‘MM’ followed by your query into the search bar. For example, if you enter ‘mm consumer analytics’ into Chrome’s search bar, relevant pages from MarketingMind will appear in Google’s result pages.
Marketing has changed. More so in practical terms, and marketing education is lagging.
The fundamental change lies in the application of analytics and research. Every aspect of the marketing mix can be sensed, tracked and measured.
That does not mean that marketers need to become expert statisticians. We don't need to learn to develop marketing mix models or create perceptual maps. But we should be able to understand and interpret them.
MarketingMind helps. But the real challenge lies in developing expertise in the interpretation and the application of market intelligence.
The Destiny market simulator was developed in response to this challenge. Traversing business years within days, it imparts a concentrated dose of analytics-based strategic marketing experiences.
Like fighter pilots, marketers too can be trained with combat simulators that authentically reflect market realities.
But be careful. There are plenty of toys that masquerade as simulators.
Destiny is unique. It is an authentic FMCG (CPG) market simulator that accurately imitates the way consumers shop, and replicates the reports and information that marketers use at leading consumer marketing firms.
While in a classroom setting you are pitted against others, as an independent learner, you get to play against the computer. Either way you learn to implement effective marketing strategies, develop an understanding of what drives store choice and brand choice, and become proficient in the use of market knowledge and financial data for day-to-day business decisions.